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RBI keeps key rates unchanged, raises inflation forecast slightly
Citing worries over the rising trajectory of inflation in the coming days, Reserve Bank of India (RBI) on Wednesday left its key policy rates unchanged on Wednesday. The central bank raised the inflation projection to 4.7 per cent at the upper end by March, while retaining growth estimates at 6.7 per cent for the current fiscal.
The 6-member Monetary Policy Committee in a 5:1 vote chose status quo on rates
in an effort to keep retail inflation within the target of 4 per cent plus or minus 200 bps, while supporting the country’s growth.
The RBI has increased its inflation projection by 10 basis points to 4.3-4.7 per cent in the second and the fourth quarters, from 4.2-4.6 per cent estimated in the October review.
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Sunday EditionView All
20 May 2018 | PNS
New Delhi: “Now, let us enjoy our holidays,” this is how the Supreme Court concluded the hearing on the Karnataka power row on Saturday. The courtroom burst into a bout of laughter as Justice AK Sikri, who headed the three-judge Bench, made the jovial remark ...
STATE EDITIONSView All
25 May 2018 | Santosh Narayan | Ranchi
When Prime Minister Narendra Modi during his Jharkhand visit on Friday sits with the Deputy Commissioners and officials of the 19 aspirational districts it would boost hope of speedy development of the areas that have been in the red zone. It is learnt that all the DCs concerned have been told to be ready with crisp presentations highlighting not only the good works done in their areas identified but also...